Facebook reportedly close to setting IPO price at $38

Facebook's will start trading tomorrow, setting the stage for largest Internet IPO in history.

Here come the leaks, on what The Wall Street Journal calls "Facebook Eve." (Wish I could take credit for that).

The Journal is reporting that bankers and Facebook execs are close to setting the IPO price at $38 a a share. That would set the IPO at the top of its price range of $34 to $38. It would also give Facebook a market valuation of $104.1 billion -- more than half that of the far more profitable Google.

As the Journal cautions, this price could change.

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